The 1977 Peugeot 504 put up for auction by Iranian President Mahmoud Ahmadinejad has received a bid of $1 million within the opening days of the bidding process.
President Ahmadinejad launched a website on Saturday welcoming bids of from international buyers, and the head of Iran’s Welfare Organisation, Ahmad Esfandiari, confirmed the seven-figure offer had come from an Arab country.
The money raised from the sale of the car will go towards a project to build 60,000 homes every year for needy women, children and disabled citizens in Iran. Housing affordability is one of the biggest challenges facing Iran and its 73 million citizens.
Bids will be accepted through the website until the end of the month before an in-person auction, which is expected to be held in February.
Apart from its previous owner history, there is nothing special about the 34-year-old white Pug, although it is in near-pristine condition.
The odometer also shows just a tick under 37,000km – which averages only slightly more than 1000km for every year of its life.
Even so, without its famous owner the vehicle would struggle to sell for more than a couple of grand in the used car market.
To view more images and video of the President’s Peugeot, or to up the ante in the bidding stakes, check out the Ahmadinejad Car website.